It has been a great start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index has climbed almost 1.2% higher to 5,242 points after Hillary Clinton appeared to take a bigger lead in the race to the White House.
Four shares which haven't followed the market higher today and instead have dropped lower are as follows:
BWX Ltd (ASX: BWX) shares have plunged 5% to $4.08 despite there being no news out of the personal care company. Today's performance means its shares are now down over 16% in the last five trading sessions. At 21x forecast FY 2017 earnings its shares do look to be reasonable value now. Especially considering analysts expect earnings growth of over 36% per annum through to FY 2019 according to CommSec.
EVOLUTION FPO (ASX: EVN) is one of a number of gold miners being hammered today. Its shares are down over 5% to $2.32 following a drop in the gold price after Hillary Clinton was cleared of any wrongdoing by the FBI. Many expect a Trump victory could catapult the gold price higher. So with Clinton pushing ahead in the polls, this is beginning to look less likely.
Myer Holdings Ltd (ASX: MYR) shares have dropped 2.5% to $1.09 today as short interest rises in the department store operator. Now, 17.5% of Myer's shares are in the hands of short sellers as investors become increasingly bearish on its prospects. We should learn more about how the business is performing at its upcoming AGM on November 18.
Vita Group Limited (ASX: VTG) shareholders just can't catch a break at the moment, as it has fallen once again. This time the telecommunications retailer's shares have dropped by 4% to $3.44. A cloud is hanging over the company at the moment due to it being in negotiations with Telstra Corporation Ltd (ASX: TLS) over the remuneration it receives from the telco giant for operating its retail stores. The sooner the new terms are revealed the better.
